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Suppose drug companies come out with new wonder-drugs capable of curing the common cold. What is the

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Suppose drug companies come out with new wonder-drugs capable of curing the common cold. What is the

Suppose drug companies come out with new wonder-drugs capable of curing the common cold. What is the most likely effect on the demand for physicians' services?
A) The demand will become more elastic.
B) The demand will become more inelastic.
C) The demand will decrease if government or private insurance pays all or most of the physicians' fees.
D) The demand will increase if the drugs can only be obtained with a physician's prescription.
E) The demand will not change, though the quantity demanded almost certainly will.

Textbook

The Economic Way of Thinking

Edition: 13^th

Authors: Heyne, Boettke, Prychitko

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Sublight2097 Author

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9 years ago

My mind was going in all different directions trying to figure this one out. Thanks so much.

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Dropx

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9 years ago

Another success story!

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